News of the day

16 April, 2019 12:00 AM

Malaysia would have faced a $5-billion penalty if a China-backed rail project was axed entirely, Prime Minister Mahathir Mohamad said on Monday, after a deal was reached to revive the controversial scheme. Last week Malaysia and China agreed to push ahead with the railway at a 30-percent lower cost, lifting a suspension slapped on the project when a corruption-plagued regime lost power last year.